As you know, credit card companies are always on the look-out for people to fall into their little holes. Sometimes it seems impossible to escape some fees or interest rates, and nothing seems to help stop the fact that you are going to have to pay them. Well, here are five tips for you to prepare…

Late Payments: A big one is late payments. Credit card companies sometimes will go ahead and charge you a very…excuse me, extremely awful fee for missing the payment date by one day. It is as simple as that. Try to synchronize your money right, so that when you need to pay you are ready and won’t be caught off guard by these companies.

Increased Interest Rates: It wouldn’t be a surprise if your credit card interest rates go up without notice. Credit Card companies will go ahead and increase the interest rate in your card without you having a say on it, like it or not. Even worse, this new interest rate will apply to your past purchases. Congress is working to pass a bill limiting some of these laws, but there haven’t been any outcomes yet.

Double Interests: In double-cycle billing you are charged interest on the average daily balance of two months, instead of one. That means that even though you pay most of your credit in one month, next month you will still be charged.

Grace Periods: They are not what they used to be anymore. While on your grace period, if you don’t pay it in full by the end of it, you will still be charged all of the interest. So, watch out and always try to have your full payment in time. Don’t rely on anything.

Payment Fees to Pay: So, you are trying to get your payment in time so you don’t get charged any fees. You proceed to pay online or through the phone…however, Credit Card companies didn’t let this one slide by. Expect to pay some kind of fee in order to be able to pay. Pretty ironical, no?